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October 23, 2024 2024 ESOP Essentials

Systems Engineering

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Operational Overview

Description of the products/services offered: Systems Engineering is a managed services provider that leads the industry in excellence for technology, cybersecurity, and compliance. The firm is 100% employee-owned and is dedicated to providing clients with secure technology solutions that enable productivity. Systems Engineering’s 190-plus information technology professionals provide end-to-end planning and implementation services, including a full complement of managed IT, cybersecurity, cloud services, and compliance advisory services. The team of network engineers, managed security professionals, project managers, data management experts, and account managers are available 24×7, 365 days per year. Systems Engineering serves clients in professional services, banking and financial services, manufacturing, construction, healthcare, technology, and the nonprofit sector.

Market presence and competitive positioning: Systems Engineering is well known throughout Maine and New Hampshire, uniquely positioned as an MSP 4.0 that indicates the maturity of the solutions around integrated technology, cybersecurity, and compliance services. The firm stands apart from competitors with a ground-breaking service centered around best practices methodologies based on the industry standard NIST Cyber Security Framework (CSF). The company is also leading around CMMC compliance for clients who are part of the Defense Industrial Base and has received SOC 2 Type 2 attestation.

Geographic reach or areas of operation: Systems Engineering has physical locations in Maine and New Hampshire but serves a national client base with only onshore resources.

Employee Participation and Benefits

Success story of an employee who has benefited from the ESOP: Justin Whitlock, senior account executive at Systems Engineering, has been on the team for 22 years. In an industry with an average tenure of under four years, this is a testament to the power of great ESOP companies. Justin came to Systems Engineering as a network field engineer and moved into the account management role. “The teamwork on display floors me. The willingness of employee owners to dig in on problems and have a long-term view in mind enables us to make good decisions without taking shortcuts. We take a great deal of pride in the work we do. Being part of an employee-owned company motivates me to do my best. Being a shareholder in the company encourages me to be all in.” — Justin Whitlock

Explanation of how the company communicates with employees about the ESOP: The firm takes a holistic view of communicating throughout the employee owner lifecycle, ensuring that staff understands the significance and benefits of being part of an ESOP.

Initial communication:

  • During recruitment: The ESOP is highlighted as a key benefit, attracting potential candidates, and the ESOP is discussed with candidates during their interviews.

Onboarding process:

  • Day one overview: New hires receive a comprehensive explanation of what an ESOP is, and the benefits are discussed to provide a clear understanding from the start.

Ongoing education and communication:

  • Employee Ownership Communications Committee: This committee, made up of employee owners, is responsible for fostering a culture of ownership and ongoing ESOP education.
  • Regular updates: Employee owners are kept informed about the company’s financial performance and business developments through transparent and consistent reporting.

Annual ESOP events:

  • ESOP Vesting Ceremony: Employees owners who become fully vested are celebrated and presented with a vest, symbolizing their 100% vested status in the ESOP. This vest acts as both a physical representation of their achievement and a source of pride among all employee owners.
  • Share Price Reveal: This event focuses on the firm’s share price, which reflects the firm’s financial performance from the previous year. Employee owners entering the ESOP are pinned to mark the official start of their ownership journey.

Company Culture

Description of the company culture and values: The culture at Systems Engineering is deeply rooted in the values of integrity, teamwork, respect, and innovation, particularly important in a technology business. These values guide decisions that impact not only the employee owners but also clients and the broader community. This is encapsulated in the use of a model referred to as the “3 C’s” — Culture, Clients, and Community — which ensures that the company’s actions are aligned with the best interests of all stakeholders. The culture is described as a “team sport,” reliant not just on the leadership team but on every individual’s contribution.

Employee testimonials and success stories: “Working for Systems Engineering is always challenging and fun. We do meaningful work for our clients and make a difference in the community. Our peer culture re-enforces accountability and excellence.” — Justin Whitlock, Account Executive.

Awards & Recognitions

The company has been recognized as one of the “Best Places to Work” in ME for 11 consecutive years, highlighting its commitment to maintaining a positive workplace culture. With an impressive 90% employee owner retention rate, Systems Engineering exemplifies its employee ownership model, emphasizing a supporting and engaging work environment. The recognition serves as a testament to the firm’s efforts to foster a culture that values each employee owner’s contribution, supports professional development, and promotes a sense of accountability and involvement in the organization’s direction and success.

100%

Company ownership held by employees through the ESOP

Company Info

 

 

120 Exchange Street
Portland, ME 04101
207-772-3199
info@systemsengineering.com
888-624-6737

President/CEO: Matt McGrath

Employees: 190

Location/Headquarters: Portland, Maine; New Gloucester, Maine; Manchester, N.H.

Founded: 1988

Transitioned to ESOP: 2007